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New Study: Spinal Implants and Devices Market Value Expected to Grow $13,384 Mn by 2022

12-10-2018 03:32 PM CET | Health & Medicine

Press release from: Allied Market Research

Spinal Implants and Devices Market

Spinal Implants and Devices Market

"Move to Minimally Invasive Spine Surgery (MIS). MIS does not involve long incisions or incisions, which is desirable because it can damage the muscles around the spine."

A latest report "Spinal Implants and Devices Market Expected to Reach $13,384 Million, Globally, by 2022" published by Allied Market Research. Global market is expected to reach $13,384 million by 2022 from $9,741 million in 2015 with a CAGR of 4.6% from 2016 to 2022. Spinal fusion devices segment held nearly three-fifths of the total market share in 2015.

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Spinal implants and devices are used to treat deformities and disorders related to the spine. The market has seen significant growth in recent years due to increased funding to support research and development for innovative spinal therapy.

Advent of minimally invasive spine surgery techniques and rising incidence of spinal disorders drive the market growth. In addition, rise in geriatric population and technological developments in bone grafting products are anticipated to further drive the demand for spinal implants and devices globally. However, the unfavorable reimbursement scenario and stringent regulatory approval process are limitations that restrict the market growth.

Spinal fusion implants are expected to dominate the market throughout the analysis period, owing to various advancements such as the advent of hook, rod and screw systems, which allow surgeons to correct spinal deformities in a three-dimensional way, and the development of special plates and cages that promote spinal fusion.

Based on surgery, open spine surgery generated maximum revenue, accounting for almost two-third of the global spinal implants and devices market in 2015. However, the minimally invasive surgery market is estimated to exhibit the highest growth rate of 14.7% during the forecast period.

Spinal Implants and Devices Market Key Findings:

• In 2015, fusion implants led the overall spinal implants and devices market, and is projected to grow at a CAGR of 3.4% during the forecast period.
• Non-fusion/motion preservation segment is projected to grow at a CAGR of 10.9% during the forecast period.
• Dynamic stabilization devices segment is expected to grow at a significant CAGR of 10.9%, owing to the use of flexible materials during dynamic stabilization procedure that helps to retain mobility in the spine.
• Balloon kyphoplasty occupied nearly four-fifth of the global vertebral compression fracture devices market in 2015.
• Japan is the major shareholder, accounting for almost one-third of the Asia-Pacific spinal implants and devices market in 2015.

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About us

Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.

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